Civic Intelligence

Verland Endowment

990 • Fiscal year 2017 • EIN 25-1440467

Jul 01, 2016 to Jun 30, 2017 • Filed on May 02, 2018

212 Iris RoadSewickley, PA 15143

(412) 741-2375

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

4th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

4th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Net Margin

91st percentile

51%

Higher net margin than 91% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

81st percentile

$322,816

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 28.6% of source-year revenue.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2017

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2017

Assets

$11,799,841

No earlier filing loaded for comparison.

Net Assets

$11,799,841

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Revenue

$1,128,985

No earlier filing loaded for comparison.

Expenses

$553,234

No earlier filing loaded for comparison.

Net Income

$575,751

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$20M$15M$10M$5.0M$0Assets 2017: $11,799,841Liabilities 2017: $0Net Assets 2017: $11,799,8412017Assets 2018: $13,546,373Liabilities 2018: $0Net Assets 2018: $13,546,3732018Assets 2019: $14,407,196Liabilities 2019: $0Net Assets 2019: $14,407,1962019Assets 2020: $15,048,354Liabilities 2020: $0Net Assets 2020: $15,048,3542020Assets 2021: $17,237,441Liabilities 2021: $0Net Assets 2021: $17,237,4412021Assets 2022: $14,633,834Liabilities 2022: $0Net Assets 2022: $14,633,8342022Assets 2023: $15,593,125Liabilities 2023: $15Net Assets 2023: $15,593,1102023Assets 2024: $17,339,594Liabilities 2024: $22,515Net Assets 2024: $17,317,0792024

Highlighted filing

2017

Assets$11,799,841
Liabilities$0
Net Assets$11,799,841

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2017: $1,128,985Expenses 2017: $553,234Net Income 2017: $575,7512017Revenue 2018: $2,635,842Expenses 2018: $691,552Net Income 2018: $1,944,2902018Revenue 2019: $1,039,132Expenses 2019: $582,015Net Income 2019: $457,1172019Revenue 2020: $309,029Expenses 2020: $615,464Net Income 2020: -$306,4352020Revenue 2021: $2,812,096Expenses 2021: $700,503Net Income 2021: $2,111,5932021Revenue 2022: $723,074Expenses 2022: $658,159Net Income 2022: $64,9152022Revenue 2023: $655,827Expenses 2023: $669,618Net Income 2023: -$13,7912023Revenue 2024: $321,325Expenses 2024: $812,465Net Income 2024: -$491,1402024

Highlighted filing

2017

Revenue$1,128,985
Expenses$553,234
Net Income$575,751
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 2, 2018
Return Version
2016v3.0
Gross Receipts
$6,227,159
Mission and Program Overview

Mission

Verland Endowment provides support to members of the Verland System by soliciting, maintaining and investing an endowment fund of funds to be used for the general financial system, including the making of capital contributions, grants and loans for the purpose of maintenance of facilities.

Verland Endowment provides support to the Verland System by soliciting, maintaining and investing an endowment fund of funds to be used to make capital contributions, grants and loans for facility maintenance.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$10,049,871$10,826,545▲ $776,674
Other Notes and Loans Receivable, Net$0$500,000▲ $500,000
Investments Other Securities$284,623$276,437▼ $8,186
Cash and Non-Interest-Bearing Accounts$286,639$116,702▼ $169,937
Pledges and Grants Receivable$10,000$7,500▼ $2,500
Total Assets$10,730,191$11,799,841▲ $1,069,650
Other Assets Total$99,058$72,657▼ $26,401
Liabilities
Other Liabilities-$0-
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Permanently Rstr Net Assets$7,989,999$8,855,083▲ $865,084
Unrestricted Net Assets$2,443,756$2,588,937▲ $145,181
Temporarily Rstr Net Assets$296,436$355,821▲ $59,385
Total Net Assets Fund Balance$10,730,191$11,799,841▲ $1,069,650
Total Liabilities and Net Assets / Fund Balance$10,730,191$11,799,841▲ $1,069,650

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$10,730,191$0▲ $1,622,884$495,746$11,799,841
2015$12,501,478$35,000▲ $409,353$2,157,369$10,730,191
2014$12,330,077$50,493▲ $975,043$792,944$12,501,478
2013$10,957,526$168,300▲ $1,678,874$411,330$12,330,077
2012$10,079,170$303,530▲ $1,200,798$569,930$10,957,526
Compensation and Service Providers

Board Members and Trustees

NameTitle
Daniel O'MalleyChairperson
Carol B MitchellPresident/CEO
William HarrigerChief Operating Officer
Robert C Urban JrController
Colleen PietrusinskiMember
Elizabeth BilodeauMember
Jon ThomasMember
Matrid HarperMember
Ray HuberMember
Robert DevlinMember
Paul B LongSecretary
David DuesselTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$1,128,985
Other Revenue
$0
Change in Net Assets
$575,751
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$495,746
Other Expenses$57,488
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$495,746--$495,746
Fees for Service Investment Mgmnt Fees$0$57,488-$57,488
Total Functional Expenses$495,746$57,488$0$553,234
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
The Verland Foundation IncSewickley, PA501(c)(3)Fixed Assets$275,746
Verland CLASewickley, PA501(c)(3)Operating costs; Fixed Assets$220,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

Verland (25-1440761) is the sole member of Verland Endowment.

Form 990, Part VI, Section B, Line 11B

After approval of the Audit and Finance Committee, the Form 990 is distributed to each Board Member for review. Formal approval of the Form 990 is conducted at a Board Meeting prior to IRS filing.

Form 990, Part VI, Section B, Line 12C

Verland has a competitive bid policy for the purchase of significant goods and services (greater than $5,000). The policy applies regardless in the event a Board Member were involved. It is the policy of Verland and affiliates that Board Members recuse themselves from any votes that may represent a conflict of interest.

Form 990, Part VI, Section C, Line 19

Documents are available upon request at the corporate office: Verland Commons, 212 Iris Road, Sewickley, PA 15143. Documents are also available through online services such as www.guidestar.org.

Filing and Contact Details

Filer

Filer Name
Verland Endowment
EIN
25-1440467
Phone
4127412375
Address
212 Iris Road, Sewickley, PA 15143

Signing Officer

Name
Robert C Urban Jr
Title
Controller
Phone
4127412375
Signed
2018-05-02
Discuss with paid preparer
No

Organization Details

Principal Officer
Robert C Urban Jr
Formed
1978
Legal Domicile
Pa
Voting Board Members
11
Independent Board Members
9
Employees
0
Volunteers
9

Preparer

Firm
Bdo USA Llp
Address
300 Spruce Street Suite 100, Columbus, OH 43215
Preparer
Melanie Wernert
Phone
6144883126
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 5

Other Changes in Net Assets are Unrealized Gains on Investments ($490,301) and increase in CSV of Life Insurance Policy ($3,598)

Financial Statement Notes

Schedule D, Part V, Line 4

Verland Endowment provides support to members of the Verland System by soliciting, maintaining and investing an endowment fund of funds to be used for the general financial system, including the making of capital contributions, grants and loans for the purpose of maintenance of facilities.

Schedule D, Part X, Line 2

Accounting principles generally accepted in the United States of America require the System's management to evaluate tax positions taken by the System and recognize a tax liability (asset) if the System has taken an uncertain position that more likely than not would not be sustained upon examination by a taxing authority. Management has analyzed the tax positions taken by the System and has concluded that, as of June 30, 2017, there are no uncertain tax positions taken or expected to be taken. The system is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.

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IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt02106707
IRS990/PYInvestmentIncomeAmt0604884
IRS990/PYOtherExpensesAmt058271
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-1525094
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt02164978
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0639884
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0575751
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
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IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
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IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd00
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IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd01
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt04
IRS990ScheduleA/SupportedOrganizationsTotalCnt04
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IRS990ScheduleA/SupportedOrgInformationGrp/EIN1232250268
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IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd31
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IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt10
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt20
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt30
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt0275746
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt1220000
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt20
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt30
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0The Verland Foundation Inc
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt1Verland CLA
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt2Verland Commons
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt3Verland
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt0495746
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BoardDesignatedBalanceEOYPct00.2194
IRS990ScheduleD/CYEndwmtFundGrp/AdministrativeExpensesAmt057488
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IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt00
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IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt012501478
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt035000
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt010730191
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt00
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0409353
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt02157369
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/AdministrativeExpensesAmt061191
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt012330077
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt050493
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt012501478
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/GrantsOrScholarshipsAmt00
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0975043
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/OtherExpendituresAmt0792944
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/AdministrativeExpensesAmt063293
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt010957526
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt0168300
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt012330077
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/GrantsOrScholarshipsAmt00
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt01678874
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/OtherExpendituresAmt0411330
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/AdministrativeExpensesAmt056042
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt010079170
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt0303530
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt010957526
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt00
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt01200798
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/OtherExpendituresAmt0569930
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.7504
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Verland Endowment provides support to members of the Verland System by soliciting, maintaining and investing an endowment fund of funds to be used for the general financial system, including the making of capital contributions, grants and loans for the purpose of maintenance of facilities.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Accounting principles generally accepted in the United States of America require the System's management to evaluate tax positions taken by the System and recognize a tax liability (asset) if the System has taken an uncertain position that more likely than not would not be sustained upon examination by a taxing authority. Management has analyzed the tax positions taken by the System and has concluded that, as of June 30, 2017, there are no uncertain tax positions taken or expected to be taken. The system is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule D, Part V, Line 4
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule D, Part X, Line 2
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.0302
IRS990ScheduleD/TotalLiabilityAmt00
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt0275746
IRS990ScheduleI/RecipientTable/CashGrantAmt1220000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(c)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc1501(c)(3)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt10
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Fixed Assets
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1Operating costs; Fixed Assets
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0The Verland Foundation Inc
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1Verland CLA
IRS990ScheduleI/RecipientTable/RecipientEIN0251344230
IRS990ScheduleI/RecipientTable/RecipientEIN1232250268
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0212 Iris Road
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1212 Iris Road
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Sewickley
IRS990ScheduleI/RecipientTable/USAddress/CityNm1Sewickley
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0PA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1PA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd015143
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd115143
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0Grants are only made to affiliated organizations.

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